"This is why I am calling on our Chinese hosts, but also on presidents Trump and Putin, to jointly start this process from a thorough reform of the WTO", Tusk earlier said, referring to the World Trade Organization by its acronym. "The data shows that global trade headwinds have yet to grip China's economy", Tom Rafferty of the Economist Intelligence Unit said, as quoted by the Financial Times.

His plea came a week after President Trump renewed his threat to impose tariffs on an extra $200 billion worth of Chinese goods, or almost half of what the United States imported past year from China. Those wouldn't take effect until at least September.

Speaking before Trump and Putin were due to meet in Helsinki, European Council President Donald Tusk appealed for leaders to avoid wrecking a political and economic order that nurtured a peaceful Europe and developing China.

Asked whether China used Monday's meeting to try to form an alliance with the European Union against Washington, Li said the US-Chinese dispute was a bilateral matter for Beijing and Washington to solve. He argues that this justifies the tariffs under global rules, and contends that the other countries' retaliation is illegal because they did not go through the WTO.

"If the U.S. and China do not resume talks in the next two months or so, the conflict will escalate further, with major economic implications for themselves and the global economy".

China has repeatedly said it can weather a trade war better than the United States but the prospect of tariffs on as much as $500bn of Chinese goods has anxious investors and businesses. "It is clear that Ontario is not a national security risk to the United States".

The one-sentence announcement on Monday, from China's ministry of commerce, comes less than a week after the United States president called for a second round of tariffs on China, in retaliation for Chinese tariffs placed on American goods.

China and Europe are "two major forces of stability and responsibility" that support inclusive globalisation, Zhang said.

"Our summit is not directed at any third party, " said Li.

Trump has said he wants to narrow America's $376 billion trade deficit with China and has accused the country of stealing USA business secrets.

European Commission spokesman Margaritis Schinas said on Friday that discussions with China would focus on "trade and investment, on the commitment to combating climate change and investing in clean energy and on foreign and security issues, including the situation on the Korean peninsula".

An EU report last month said Beijing imposed more new import and investment barriers in 2017 than any other government.

While Brady supports the president's efforts to challenge China - the second-largest economy in the world behind the USA - he believes Trump and Chinese President Xi Jinping should meet to work on crafting a new trade policy that would ease the burden on US businesses and the economy.

During a visit to Berlin by Li this month, German and Chinese companies signed deals worth 20 billion euros ($24 billion).

The company was also allowed to join the Chinese market without a local business partner, another rarity in China. "No one in this world can do it on their own".

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